China's Electric Vehicle Market Surges, Facing Challenges Abroad image- evconnect
In the second quarter of this year, global electric vehicle (EV) sales saw an impressive 50% increase year-on-year. However, despite this remarkable growth, Chinese EV companies are encountering difficulties in international markets.
Counterpoint Research reports that Chinese EV firms are maintaining their dominance due to substantial gains in their domestic market, securing a 56% share of global unit sales, albeit being their lowest in three years.
BYD Auto,GAC Groupand Geely Holdings were among top 5 in last quater image japantimes
"BYD Auto, GAC Group, and Geely Holdings were among the top five global passenger EV manufacturers in the last quarter. Interestingly, none of them are household names in the West. They primarily sell their cars domestically," says Archi Zhang, a research analyst in China.
Outside of China, the trend is leaning toward premium segments of the market, with most luxury EVs being larger, more expensive, and often more glamorous.
It's clear that China's EV market is flourishing at home, but when it comes to international expansion, the road is not as smooth.
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